Short position looks to still be good here. I would expect the bounce to be no more than 2850. A short term top is being carved out around 2840 right now.
Short 1 MES @ 2829.00 Stop @ 2832.00. Target 2820, previous days low. Edit: Stopped manually @ 2932.00, some time after it was hit. For some reason, keeping the working order window open in TWS is a challenge. It looks like IB accepted my resting buy order at 2820, but my stop order never registered. Was thinking of getting out at breakeven, but wanted to give more time for the trade to work. If I had multiple contracts, would have definitely reduced my size.
2785 now a distinct possibility this week as the bear market begins to fester. ----As an aside, I believe an attack on 2050 has a real chance during this cycle.
It seems to me a battle between our easy money Fed and weakening global economic growth prospects. We may get a bit of a boost from money flows out of China as well, but still I don’t consider that a positive sign overall. Edit: Europe is not looking too healthy either. Right, Italy and Deutschebank?